MyIRSRelief

JANUARY 16, 2023

When it comes to tax season, many people are faced with the decision of whether to prepare their own taxes or use an income tax preparation service. While it may seem like an added expense, there are many benefits to using a professional tax preparation service that make it well worth the cost.

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MyIRSRelief

OCTOBER 16, 2023

The Difference Between Deductions and Credits Before we dive into the world of tax deductions and credits, it’s essential to understand the fundamental difference between the two: Tax Deductions: Deductions reduce your taxable income, which, in turn, lowers the amount of income subject to taxation.

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xendoo

NOVEMBER 1, 2021

Online merchants typically have a small variety of travel expenses, since you’ll be using a car to perform basic tasks that include: Transporting packages to the post office or shipping company. Keep in mind that we’ve been talking exclusively about cars, but there are other transportation costs that you can deduct, like: Airfare.

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xendoo

NOVEMBER 23, 2020

Are you claiming all the income tax deductions you’re entitled to? Transportation expenses to and from the education venue. This deduction covers any consultants you hire in connection with running your business, including attorneys, accountants, tax preparers and advertising agencies. Home Office.

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MyIRSRelief

NOVEMBER 19, 2021

That’s why so many people choose to hire a tax preparer/ EA, Attorney, CPA, they don’t want the hassle of doing it themselves, and they trust an expert to handle their business. Tax credits to look out for. Earned Income Tax Credit (EITC).

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LyfeAccounting

FEBRUARY 24, 2021

Short-term capital gains are taxed as ordinary income based on your federal income tax bracket. The credit is known as the Child and Dependent Care tax credit and the limit is $3,000 for one qualifying child or $6,000 for two or more. Child Care Credit. We hope you found this post useful and interesting.

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